Lingerie firm says knickers to downturn

The lingerie label is set to break into the American market with talks about expanding into Japan and Russia as its sales soar

Agent Provocateur raised its sales to £24.7m in the year to March (HO)

Agent Provocateur has defied the downturn to deliver a 12% rise in annual
sales.

The upmarket lingerie label, known for its saucy image, will this week report
turnover of £24.7m for the year to March, up from £22.1m a year earlier.
Earnings before tax, interest, accounting charges and one-off items were
£1.2m, a 45% increase.

America is expected to overtake Britain as the firm’s biggest market next
year. The label is due to open flagship stores in New York and Beverly Hills
next month. Agent Provocateur, which has 51 outlets globally, is also in
talks about entering territories such as Japan and expanding in Russia.

Garry Hogarth, chief executive, said the lingerie maker’s international spread
had helped it to beat Britain’s economic downturn.

He said future growth at the brand, majority-owned by 3i, the private equity
group, would come from further store openings and a move into products
including sunglasses,